Blockchain in Healthcare?

Sharing clients’ healthcare data has been a sensitive topic, as it is riddled with many challenges. Due to this, many healthcare organizations are looking for a solution to blockchain technology.

Privacy protection has been a hot topic since the Internet as issues like bootlegging have been around for more than 20 years. The plague has infected industries from music to healthcare, and customers data seems more vulnerable than ever.

Previously music albums like Nas‘ album “I am…” have been a victim of bootlegging, nowadays companies like Google and Facebook are accused of privacy invasion. The companies have been accused of collecting private data without customers’ permission.

The sector is also polluted by such incidents as more than fifty data breaches occurred in May this year. The data breaches affected more than two million people in the United States. While the breaches were mostly due to cyberattacks, some cases involved data disclosure without permission.

While storing patients’ data may be vulnerable to a certain extent, it is nothing in front of the risk patient faces while transferring data from one doctor’s office to another. A patient may face circumstances that cause him to change his home and subsequently, his doctor. However, the transfer of his healthcare information is an issue that is left for him to solve.

Furthermore, data storage is too restricted and hinders researchers who are researching a specific drug or disease.

Healthcare: What can blockchain do?

Blockchain data is highly secure, and hackers cannot easily breach the system. Moreover, the systems are incredibly efficient and store patient data without any loss or manipulation of records.

Another critical point is they allow the patient to modify his network so that he can use private keys to grant access to his doctor. This will make transferring information from one doctor to another very easy.

Blockchain’s involvement in the healthcare market has been snowballing. According to BIS Research, blockchain in healthcare’s market cap will be slightly less than six billion dollars ($5.64B) by 2025. Previously ALLIVE has utilized blockchain technology in healthcare.

Advertisements

About The Author

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.